(Updated 6:40 pm) With country music sales dropping from 75 to 47 million units over the last two years, ”restructuring” has become a dreaded and unfortunately, all too familiar term on Music Row streets. Sony Music Nashville is the latest label to be affected by the softness in the CD marketplace and the weakness in the overall economy.
The layoffs began late in the afternoon today (1/22). They all occurred under the marketing department umbrella, and consisted of artist development and media employees mostly at the Director level. Three of the label’s four imprints were affected.
Confirmed exits include RCA Media Director, Lori Genes (615-715-5922 [email protected]); Jensen Sussman, Columbia Associate Media Director (615-915-9318 [email protected]); and Media Coordinator Michelle Lorge (615-587-4980 michelle_lorge @ yahoo.com).
BNA Director Artist Development/Marketing Dan Anderson (615-294-8432 [email protected]) and RCA Director Artist Development/Marketing Rachel Fontenot 615-516-2803 [email protected]) were also impacted.
The cuts coincided today with the announcement that worldwide electronics and software giant Sony Corp. would report an annual loss for the first time in 14 years. The company says that due to global economic conditions it would post a company-wide net loss of $1.7 billion.
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